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Thursday, October 28, 2004

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MONEY & BANKING

COURTS/LEGAL ISSUES
Court lobs Federal Bank cases to CLB
A DIVISION Bench of the Kerala High Court today declined to interfere with the order of the Additional Principal Bench of the Company Law Board, Chennai, staying the implementation of all the resolutions which were put to vote and passed in the ... More

FOREX
Rupee firms up; gilts fall further
MUMBAI: The rupee strengthened on Wednesday due to substantial FII inflows, after witnessing a 10 paise movement intra-day. The rupee ended at 45.6300/6400 against the dollar, up from the previous close at 45.6850/6900. Although the ... More

FINANCIAL PERFORMANCE
LIC Housing Fin Q2 net up 27 pc
LIC Housing Finance Ltd has reported a 27 per cent increase in net profit for the second quarter of the current fiscal. Net profit was Rs 45.68 crore, as against Rs 35.98 crore reported for the corresponding quarter of the previous year. ... More

Dewan Housing Q2 net up 14.36 pc
DEWAN Housing Finance Corporation has reported a 14.36 per cent increase in net profit for the quarter ended September 30, 2004. Net profit for the quarter amounted to Rs 6.03 crore, as against Rs 5.27 crore reported for the corresponding ... More

BoB net falls 18 pc in Q2
BANK of Baroda has recorded a 17.82 per cent decline in net profit at Rs 213.31 crore for the second quarter ended September 30, 2004 on account of fall in income from sale of investments. Net profit during the year-ago period was at Rs 259.56 ... More

GENERAL INSURANCE
`Health insurance sector is anaemic'
WHILE acknowledging the Indian insurance sector has been growing faster than before following the opening up of the sector to private participation, the Chairman of the Insurance Regulatory and Development Authority (IRDA), Mr C.S. Rao, has said ... More

Pravasi insurance benefits
THIRUVANANTHAPURAM: The divisional office of National Insurance Company has disbursed an amount of Rs 36,000 to two beneficiaries of the Pravasi Insurance scheme. The Labour Minister, Mr Babu Divakaran, on Wednesday handed over the ... More

PUBLIC SECTOR BANKS
Corpn Bank deposit drive
MANGALORE: Corporation Bank, which has launched a savings bank account mobilisation campaign with a motive to help the underprivileged among the elderly, felicitated the oldest customer of the bank, Mr A. Venkappaiah, at ... More

GOVT BONDS
State loan sale
MUMBAI: The Reserve Bank of India will conduct a state development loan auction on November 2, aggregating Rs 6,200 crore. The 7.36 per cent State Development Loan, 2014, will have a maturity of ten years, said a RBI ... More

SHORT TERM INSTRUMENTS
T-bills sale gets good response
AUCTION of treasury bills by the Reserve Bank of India witnessed a good response, even as higher cut-off yields were set for these papers. The 91-day bills received 90 bids worth Rs 3,709.25 crore of which 59 bids for the notified Rs 2,000 ... More

SECURITISATION
Centurion Bank wants to securitise loans to SMEs
CENTURION Bank would look for securitisation of some of its lending portfolios to small and medium industries, including commercial vehicles. Mr Shailendra Bhandari, Managing Director, Centurion Bank, was reacting to the peak season Credit ... More

MERGERS & ACQUISITIONS
PNB looking at PSU bank for merger?
PUNJAB National Bank (PNB) could soon be in the thick of action once again by leading the charge for consolidation among strong public sector banks. According to banking sources, PNB is in talks for merger of a Chennai-based public sector bank ... More


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